DOCSLIB.ORG

2014 Annual Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
2014 Annual Report Annual Report 2014 PERFORMANCE & GROWTH The International Building Materials Contents Group Page 2 Chairman’s Introduction Strategy Review 4 Chief Executive’s Introduction 7 Strategic Report 10 Business Model 14 Measuring Performance 17 Sustainability and Governance Business Performance Review 22 Finance Director’s Introduction 26 Operational Snapshot 28 Europe 38 The Americas CRH provides building materials 48 Asia across the spectrum of the construction industry – from building Governance foundations to frame and roofing, 51 Board of Directors to fitting out the interior space and 54 Corporate Governance Report improving the exterior environment, 72 Directors’ Remuneration Report on-site works and infrastructural 96 Directors’ Report projects, our materials and products are used extensively. Financial Statements 101 Independent Auditor’s Report 104 Consolidated Financial Statements 108 Accounting Policies 115 Notes on Consolidated Financial Statements Other Information 158 Shareholder Information 160 Management 162 Principal Subsidiary Undertakings 166 Principal Equity Accounted Investments 167 Group Financial Summary 168 Index The value created from our strategic approach translates into superior growth which has enabled our shareholders to enjoy a euro compound annual Total Shareholder Return (TSR) of 15.7% since our formation in 1970. We are committed to improving the built environment and we understand the wider impact our businesses can make in supporting human activity through the delivery of superior building materials and products for use in buildings, roads, public spaces, infrastructure and other construction areas. Our geographic footprint is wide. We operate in 34 countries and are the largest building materials company in North America, a regional leader in Europe, and have strategic positions in Asia. For over four decades, CRH has developed and implemented a proven model of business improvement. By building better businesses across our international operations, we have grown to be a leader in the global building materials industry. A Fortune 500 ranked company, CRH is a constituent member of the FTSE 100 index and the ISEQ 20. Our shares are listed on the London and Dublin stock exchanges, and on the New York stock exchange in the form of American Depositary Shares. CRH 1 34 countries 3,300 locations 76,000 people 15 billion tonnes of Chairman’s Introduction aggregates reserves Dear Shareholder, In the Chief Executive’s introduction to last year’s Annual 300 million Report, Albert Manifold set out the areas of focus for tonnes of management in 2014. He highlighted dynamic portfolio manufactured management together with maintaining CRH’s traditional tight cost control, capital discipline and focus on returns product as being key to driving growth and to rebuilding margins in the coming years. 115,000 A significant amount of progress has been made in the past Distribution 12 months, which is reflected in the results and performance for 2014. In particular, we are pleased with progress in the SKUs multi-year divestment programme and the related reshaping of the Group’s portfolio. The Group’s financial strength was further enhanced during the year by two bond issuances, co-ordinated by Maeve Carton, our Finance Director, and her team, in the amounts of €600 million and CHF330 million. The record low coupons achieved by the Group for these bonds reflect our track record in debt markets and the value that results from our investment grade credit ratings. In respect of 2014, the Board is recommending a final dividend of 44c per share. If approved at the 2015 Annual General Meeting, this will maintain the full-year dividend at 62.5c per share. During the last year, my non-executive colleagues and I have spent a considerable amount of time working with the executive Directors and the wider management team on reviewing and refining the Group’s strategy in the context of Silver Towers, New York City New York Silver Towers, the evolution of key markets and products over time and in setting the priorities for the Group. On 1 February 2015 we announced that CRH had entered into a binding commitment to acquire certain assets from Lafarge S.A. (“Lafarge”) and Holcim Limited (“Holcim”) for a total enterprise value of €6.5 billion, subject to (i) CRH shareholder approval at an Extraordinary General Meeting to be held on 19 March 2015; (ii) the successful completion of the proposed merger 2 CRH of Lafarge and Holcim; and (iii) the completion of certain made by the Secretariat. In doing so, we maintain our initial local reorganisations by Lafarge and Holcim in advance of assessment that the case is ill-founded and that the proposed the acquisition. The Board believes that this acquisition, fine in respect of the Group is unjustified. which arises from regulatory requirements for industry Two new non-executive Directors joined the Board in recent deconsolidation in connection with the merger of Lafarge months. Pat Kennedy was appointed in January 2015 while and Holcim, represents a compelling strategic opportunity Lucinda Riches has been appointed with effect from 1 for the Group, and that our financial, capital and operational March 2015. Their biographies, along with those of the rest discipline has positioned the Group to take advantage of this of the Board are set out on pages 51 to 53. Further details unique opportunity at this time. The placing of approximately on the on-going process of Board renewal are set out in the 74 million shares in CRH plc, which completed on 5 February Nomination & Corporate Governance Committee Report on 2015, raised €1.6 billion as part of the financing of this pages 66 and 67. acquisition. All Directors will retire at the Annual General Meeting on In 2015, in addition to the integration plan for the Lafarge / Thursday, 7 May 2015, with those eligible offering themselves Holcim assets, on the approval of shareholders, the Board for re-election. I strongly recommend that shareholders vote in will continue to focus on talent management, cyber security, favour of each of the individuals putting themselves forward and working towards the achievement of sustainability, safety for re-election. and environmental priorities. In relation to safety, 2015 will see the introduction of a new Chairman’s award for safety As part of the Board’s planned renewal process, John Kennedy excellence in the Group. and Dan O’Connor will step down from the Board at the conclusion of the 2015 Annual General Meeting on 7 May 2015. During 2014, the Board redoubled its ongoing focus on the On behalf of the Board, I would like to thank John and Dan for area of compliance and ethics to ensure that CRH’s processes their commitment and great service to CRH over many years. are robust and in line with best practice across the Group. In the current training cycle, over 32,000 employees have Finally, I would like to take the opportunity to thank Albert and participated in Code of Business Conduct training and a his team for their significant achievements over the past year. further 11,000 have undertaken advanced instruction on the prevention of breaches of competition law, anti-bribery and corruption laws. We remain vigilant in our business practices Nicky Hartery, Chairman in this area and are responsive to all regulatory agencies. February 2015 Notwithstanding this work, as we announced in May 2014 the Swiss Competition Commission has an open investigation in respect of practices in the sanitary building products sector in Switzerland and its Secretariat has recommended that the industry, of which certain CRH group companies are members, be fined. Engagement with the Swiss Competition Commission is ongoing and CRH is responding vigorously to the allegations CRH 3 Strategy Review Chief Executive’s Introduction When I joined CRH in 1998, I quickly learned that a Throughout recent times, the Group has maintained its philosophy of business improvement is ingrained in the commitment to ongoing cost control, strong cash generation history of the Group. At CRH, we seek to build better efficiency and disciplined financial management. Further businesses each and every day. As the construction industry progress was achieved in these areas in 2014 including an emerges from a tumultuous few years, our approach has never additional €118 million of targeted cost savings delivered by been more relevant and there is nowhere I would rather be at year-end. this moment in time than in this Group, in this industry, at The reorganisation of our European businesses was largely this point in the business cycle. completed during the year and we now have an integrated 2014 was a year of good progress for CRH. We were able to use heavyside materials and products organisation that is the underlying strength of our business to capitalise on the providing synergies across our operating plant network in recovering markets and deliver a return to profit and margin European markets. growth. Development spend in 2014 was €0.19 billion on This progress was made possible by the hard decisions and 21 transactions, a lower spend than in previous years. hard work undertaken by the Board, management and staff During 2014 we completed a detailed review of our portfolio of CRH over the course of the previous seven years since the and commenced a multi-year divestment programme, of onset of the global financial crisis. As a result of this, the businesses which no longer meet our returns and growth Group ended 2014 in a position of real strength across our key criteria, or for which we believe CRH is no longer the best metrics – strategic, operational and financial. long-term owner. We remain focussed on optimising our portfolio to meet our financial objectives and prioritising the It is particularly pleasing to report that improvements allocation and reallocation of capital as we reset for growth in performance were achieved last year across all of our and restore margins and returns to peak levels.
Load more

Recommended publications
  • The Bank of the European Union (Sabine Tissot) the Authors Do Not Accept Responsibility for the 1958-2008 • 1958-2008 • 1958-2008 Translations
    The book is published and printed in Luxembourg by 1958-2008 • 1958-2008 • 1958-2008 1958-2008 • 1958-2008 • 1958-2008 15, rue du Commerce – L-1351 Luxembourg 3 (+352) 48 00 22 -1 5 (+352) 49 59 63 1958-2008 • 1958-2008 • 1958-2008 U [email protected] – www.ic.lu The history of the European Investment Bank cannot would thus mobilise capital to promote the cohesion be dissociated from that of the European project of the European area and modernise the economy. 1958-2008 • 1958-2008 • 1958-2008 The EIB yesterday and today itself or from the stages in its implementation. First These initial objectives have not been abandoned. (cover photographs) broached during the inter-war period, the idea of an 1958-2008 • 1958-2008 • 1958-2008 The Bank’s history symbolised by its institution for the financing of major infrastructure in However, today’s EIB is very different from that which 1958-2008 • 1958-2008 • 1958-2008 successive headquarters’ buildings: Europe resurfaced in 1949 at the time of reconstruction started operating in 1958. The Europe of Six has Mont des Arts in Brussels, and the Marshall Plan, when Maurice Petsche proposed become that of Twenty-Seven; the individual national 1958-2008 • 1958-2008 • 1958-2008 Place de Metz and Boulevard Konrad Adenauer the creation of a European investment bank to the economies have given way to the ‘single market’; there (West and East Buildings) in Luxembourg. Organisation for European Economic Cooperation. has been continuous technological progress, whether 1958-2008 • 1958-2008 • 1958-2008 in industry or financial services; and the concerns of The creation of the Bank was finalised during the European citizens have changed.
    [Show full text]
  • Italcementi S.P.A. Italcementi Finance S.A
    BASE PROSPECTUS ITALCEMENTI S.p.A. (incorporated with limited liability in the Republic of Italy) and ITALCEMENTI FINANCE S.A. (incorporated with limited liability in the French Republic) €2,000,000,000 Euro Medium Term Note Programme unconditionally and irrevocably guaranteed in respect of Notes issued by Italcementi Finance S.A. by ITALCEMENTI S.p.A. (incorporated with limited liability in the Republic of Italy) Under this €2,000,000,000 Euro Medium Term Note Programme (the Programme), Italcementi S.p.A. and Italcementi Finance S.A. (the Issuers, and each an Issuer) may from time to time issue notes (the Notes) denominated in any currency agreed between the relevant Issuer and the relevant Dealer (as defined below). References in this Base Prospectus to the relevant Issuer shall, in relation to any Tranche of Notes, be construed as references to the Issuer which is, or is intended to be, the Issuer of such Notes as indicated in the applicable Final Terms. The payments of all amounts due in respect of the Notes issued by Italcementi Finance S.A. will be unconditionally and irrevocably guaranteed by Italcementi S.p.A. in its capacity as guarantor (the Guarantor). The maximum aggregate nominal amount of all Notes from time to time outstanding under the Programme will not exceed €2,000,000,000 (or its equivalent in other currencies calculated as described in the Programme Agreement described herein), subject to increase as described herein. The Notes may be issued on a continuing basis to one or more of the Dealers specified under “Overview of the Programme” and any additional Dealer appointed under the Programme from time to time by the Issuers (each a Dealer and together the Dealers), which appointment may be for a specific issue or on an ongoing basis.
    [Show full text]
  • Arab Republic of Egypt Ministry of Electricity and Energy New and Renewable Energy Authority (Nrea)
    ARAB REPUBLIC OF EGYPT MINISTRY OF ELECTRICITY AND ENERGY NEW AND RENEWABLE ENERGY AUTHORITY (NREA) Environmental and Social Impact Assessment Study 1,000 MW Wind Farms at the GULF OF SUEZ financed by KfW-Entwicklungsbank October 2011 PREPARED BY THE JOINT VENTURE LAHMEYER INTERNATIONAL GMBH, BAD VILBEL AND ECODA DR. BERGEN & FRITZ GBR, DORTMUND, GERMANY CONTENTS Abbreviations 6 1. Non Technical Executive Summary 7 1.1 INFORMATION ON THE PROJECT 7 1.1.1 Objective and Scope 7 1.1.2 Wind Power Development in the 200 km² ESIA Area 8 1.2 EXISTING ENVIRONMENT 12 1.2.1 Features except Fauna and Flora 12 1.2.2 Flora and Fauna – plants and animals (except birds) 14 1.2.3 Birds 16 Methods 16 Spring migration – results and assessment of the importance of the area 17 Autumn migration – results and assessment of the importance of the area 19 Local birds – results and assessment of the importance of the area 20 Roosting birds – results and assessment of the importance of the area 20 1.3 PREDICTION OF IMPACTS 21 1.3.1 Features except Fauna and Flora 21 1.3.2 Fauna and Flora 23 1.3.3 Birds 24 1.4 MITIGATION MEASURES 27 1.4.1 Mitigation measures with regards to migrating birds 27 1.4.2 Mitigation measures with regards to other features (except migrating birds) 29 1.5 ENVIRONMENTAL MANAGEMENT PLAN 30 2. Description of the project and layout 33 2.1 OBJECTIVES AND SCOPE 33 2.2 THE “200 KM² PROJECT AREA” 34 2.3 THE PROJECT - LAYOUT OF WIND POWER DEVELOPMENT 37 2.3.1 General Description of the Project 37 2.3.2 Topographical Restrictions of the Project 40 2.4 CONSTRUCTION PHASE: SITE PREPARATION & CONSTRUCTION MEASURES 41 2.5 O&M PHASE ACTIVITIES 42 2.6 DECOMMISSIONING 42 3.
    [Show full text]
  • Heidelberg Italcementi
    HEIDELBERG CEMENT E GRUPPO ITALCEMENTI SCHEDA GENERALE- produzioni e numero stabilimenti (ITC in rosso) AREE Cemento/ CCBS Terminali Aggregati Aggregati Calcestruzzo Asfalto Prodotti Prefabbricat Macinazione CEMENTO terminali Calcestruzzo 1-Nord America HEIDELB. 16 1 47 187 18 149 48 3 1-Nord America ITC 6 29 2-Europa Occiden. E Settent.HEIDEL. 26 0 60 147 47 585 42 30 2-Europa Occiden. e settent. ITC 28 289 3-Asia e Pacifico HEIDELB. 18 0 10 84 0 298 20 2 3-Asia e Pacifico ITC 6 1 33 4-Africa e bacino MediteR. HEIDEL. 16 0 6 18 0 75 2 0 4-Africa e bacino MediteR.ITC 15 3 63 5-Europa Orient. e Asia Centr,HEID. 22 0 22 67 6 207 0 3 5-Europa Orient. e Asia Centr. ITC 3 2 TOTALI 156 1 151 503 71 1728 112 38 1-Nord America: Stati Uniti e Canada, USA e Canada 2-Europa occidentale e settentrionale: Belgio, Danimarca, Estonia, Germania, Lituania, Olanda, Norvegia, Svezia, Inghilterra, Lettonia, Islanda. Belgio, Francia, Italia 3-Asia e Pacifico: Australia, Bangladesc, Brunei, Cina, India, Indonesia, Malesia, Singapore, India, Tailandia, Sry lanka 4-Africa e bacino Mediterran.: Benin, Burkina Faso, DRCongo, Ghana, Liberia, Sierra Leone, Tanzania, Togo, Spagna, Israele, Turchia, Emirati Arabi Marocco, Egitto, Arabia Saudita, Kuwait, Gambia, Mauritania, Spagna, Grecia 5-Europa Orientale e Asia Centrale: Bosnia e Eezegovina, Croazia, Repubblica Ceca, Georgia, Ungheria, Kazakistan, Russia, Slovacchia, Ucraina Polonia, Romania, Kazakistan, Albania, Bulgaria DIPENDENTI HEIDELBERG CEMENT NEL MONDO 44.900 DIPENDENTI GRUPPO ITALCEMENTI NEL MONDO 17.050 TOTALE DIPENDENTI 61.950 HEIDELBERG CEMENT E' PRESENTE IN ITALIA CON LA SOCIETA' HC TRADING (nata nel 1999) A GIOIA TAURO.
    [Show full text]
  • Case M.7744 - HEIDELBERGCEMENT / ITALCEMENTI
    EN EUROPEAN COMMISSION DG Competition Case M.7744 - HEIDELBERGCEMENT / ITALCEMENTI Only the English text is available and authentic. REGULATION (EC) No 139/2004 MERGER PROCEDURE Article 6(1)(b) in conjunction with Art 6(2) Date: 26/05/2016 In electronic form on the EUR-Lex website under document number 32016M7744 EUROPEAN COMMISSION Brussels, 26.5.2016 C(2016) 3269 final In the published version of this decision, some information has been omitted PUBLIC VERSION pursuant to Article 17(2) of Council Regulation (EC) No 139/2004 concerning non-disclosure of business secrets and other confidential information. The omissions are shown thus […]. Where possible the information omitted has been replaced by ranges of figures or a general MERGER PROCEDURE description. To the notifying party: Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË Tel: +32 229-91111. Fax: +32 229-64301. E-mail: [email protected]. I. THE PARTIES ............................................................................................................ 5 II. THE OPERATION ...................................................................................................... 5 III. EU DIMENSION ........................................................................................................ 6 IV. MARKET DEFINITION ............................................................................................ 6 IV.1. Overview of the concerned products ................................................................
    [Show full text]
  • Annual Results 2017 Presentation
    HeidelbergCement 2017 Full Year Results 22 March 2018 Dr. Bernd Scheifele, CEO and Dr. Lorenz Näger, CFO Palazzo Italia Photo by © Mario e Pietro Carrieri Slide 1 – 2017 Full Year Results - 22 March 2018 Contents Page 1. 2017 Overview 3 2. Results by Group areas 14 3. Financial Results 21 4. Outlook 2018 33 5. Appendix 38 Slide 2 – 2017 Full Year Results - 22 March 2018 HeidelbergCement continues to grow and deliver Solid earnings Strong cash flow Well balanced cash growth generation allocation strategy Continuous EBITDA growth Progressive increase in dividend continues Free cash flow +6% 1.90 € 2) increases to Interest expense further down 1.4b EUR Solid debt reduction 89m€ 583 m€ 3) Improved tax structure Free cashflow conversion rate Disciplined growth with Income tax rate below 25% reaches 43%, despite selective M&As Italcementi related integration Historically high EPS costs HeidelbergCement continues to earn premium on cost of 1) 6.73 EUR capital. 1) Excluding additional ordinary result and one-off non-cash deferred tax 285m€ related to the enactment of the “US Tax Cuts and Jobs Act” in 2017. 2) Proposal of Managing Board and Supervisory Board to Annual General Meeting. 3) Debt reduction before currency and accounting impacts. Slide 3 – 2017 Full Year Results - 22 March 2018 Key operational and financial figures m€ Dec 16 Dec 17 Change % LfL % Q4 16 Q4 17 Change % LfL % Cement volume (‘000 t) 124,178 125,694 1,516 1.2 % 1.1 % 30,483 32,156 1,673 5.5 % 4.8 % Aggregate volume (‘000 t) 287,400 305,256 17,856 6.2 % 1.1 % 73,337 76,306
    [Show full text]
  • Case History Italcementi ING.Indd
    Case history Italcementi A strength contribute to traceability The customer Italcementi was founded in 1864 in Bergamo (Italy). With an annual pro- duction capacity of approximately 70 million tons of cement, Italcementi Group is the world’s fi fth largest cement producer. The Parent Company, Italcementi S.p.A., is one of Italy’s 10 largest industrial companies. Italcementi Group’s companies combine the expertise, know how and cul- tures of 22 countries in 4 Continents boasting an industrial network of 63 cement plants, 15 grinding centres, 5 terminals, 134 aggregates quarries and 613 concrete batching units. In 2007 the Group had sales amounting to 6 billion Euro and a net income of 612.5 million Euro while sales volumes and internal transfers by busi- ness were: cement and clinker 64.6 Mt, aggregates 56.3 Mt and ready- mixed concrete 20.5 Mm3. Since 1998 Italcementi Group has been pursuing its internationalisation strategy by acquiring new cement works in Bulgaria, in Kuwait, in China, in Saudi Arabia, Kazakhstan, Thailand, Morocco, India, Egypt and the United States. The enterprise obtained the quality certifi cation UNI EN ISO 9001:2000 since 1994 by Certiquality. The requirement Through a technical selection and an international ten- der, Italcementi Group S.p.A set forth its need of coding production batch and expiry date on paper sacks/bags containing its most innovative product. It’s a cement that is mixed with organic components that fi x the expiry. The client demanded to get all data to be printed into a prefi x frame of dimensions 8-10 mm height x 40-45 mm width (0,3-0,4 / 1,6-1,8 inch).
    [Show full text]
  • Office of Strategic Research INTERNATIONAL CORPORATE INVESTMENT in OHIO OPERATIONS
    OHIO DEPARTMENT OF DEVELOPMENT Office of Strategic Research INTERNATIONAL CORPORATE INVESTMENT IN OHIO OPERATIONS June 2006 A State Affiliate of the U.S. Census Bureau Bob Taft, Governor Bruce Johnson, Director International Corporate Investment in Ohio Operations July 2006 This Directory identifies 963 companies based in Ohio having some type of International Corporate Investment. The address, employment, function, and country of foreign origin creates the database published by the Ohio Department of Development. The Directory of International Corporate Investment in Ohio Operations is a detailed listing of foreign based enterprises that have investment or managerial interests in business operations based in Ohio. The report provides a summary by Country, Distribution Maps and data lists sorted by alphabetical listing, country of foreign origin, and the county location of the Ohio investment. The enterprises listed in the directory have ten or more employees at the Ohio site. The information was collected through mail survey, phone contact, web searches and news reports. International investment is defined as ten percent or greater of corporate shares / capital owned by others domiciled outside the United States. There are no mandatory state filing of international status, thus this report was made possible through the voluntary cooperation of the companies listed. Employment counts may differ with other published reports due to the timing or aggregation of the data. While every attempt has been made to make this Directory complete and accurate as possible, global trade and commerce creates a constant state of change. Updates and new listings are always welcome and will be incorporated into later editions. All information listed should be considered current as of April 2005.
    [Show full text]
  • Italcementi Group
    ITALCEMENTI GROUP With an annual production capacity of more than 61 million tons Italcementi Group is one of the world’s largest cement producer with a strong focus on innovation and sustainable construction materials. For Expo 2015 taking place in Milan on May 1st – October 31st, Italcementi’s research expertise has resulted in creating an innovative and sustainable material for architecture: biodynamic cement. Its properties and features make this product unique, and it has been used for the entire external surface and the inner facings of Palazzo Italia. Universal Exhibitions have been historically connected with Italcementi: from the silver medal at 1867 Expo in Paris, through to the international success of the Italian Pavillion in transparent cement, the symbol of Expo Shanghai 2010, to the new biodynamic cement that characterizes Palazzo Italia at Expo Milano 2015: performances and solutions that implement the architectural and engineering quality that Italy is able to express. With its materials and know-how, Italcementi has always been at the side of architects developing innovative projects with a high technology content. A dialogue that started long ago with the experimental work with Gio Ponti for the Pirelli Tower in Milan and Pier Luigi Nervi for the Paul VI Audience Hall, and continued with the Guggenheim Museum by Frank O. Gehry, the Bibliothèque Nationale de France by Dominique Perrault, the Oaka by Santiago Calatrava, the Maxxi by Zaha Hadid, to the cooperation with Richard Meier on the Dives in Misericordia church in Rome and i.lab, Italcementi Group research and innovation centre. Through the activities of i.lab, rated Leed Platinum, the Group intends to anticipate market trends and requirements promoting the concept of sustainable construction.
    [Show full text]
  • The Mineral Industry of Cyprus in 2015
    2015 Minerals Yearbook CYPRUS [ADVANCE RELEASE] U.S. Department of the Interior July 2019 U.S. Geological Survey The Mineral Industry of Cyprus By Sinan Hastorun Cyprus, an island country in the eastern Mediterranean Sea, stone increased by 567% compared with that of 2014; that of produced copper, umber and ocher, and industrial minerals used crushed limestone (havara), by 303%; umber and ocher for in construction. The production and export of other minerals cement production, by 175%; crude gypsum, by 36%; marble, or metals, such as asbestos fibers, chromite, gold, and silver, granules, and chippings, by 25%; calcined gypsum, by 17%; ceased in the early 1980s. The mineral resources of Cyprus1 and hydraulic cement, by 7%. The substantial increases were include asbestos, bentonite, copper, gypsum, lime, limestone from low base amounts produced during the recent economic (known locally as havara), marble, sand and gravel, and umber recession. Production of refined copper decreased by 28%; and ocher. In 2015, Cyprus accounted for about 0.8% of world clinker, clays for cement manufacture, and marl, by 10% each; bentonite production (table 1; Mines Service, 2016b, d, e; bentonite, by 9%; clay for brick and tile manufacture, hydrated Flanagan, 2017). lime, and iron oxide pigments (umber and ocher), by 8% each; In 2015, a new copper mine was being developed, which and sand and gravel, by 2% (table 1). would be the second metal mine in Cyprus. In 2015, mineral fuel reserves were reported for the first time after natural gas Structure of the Mineral Industry resources at the Aphrodite offshore field were determined to Table 2 is a list of the major mineral industry facilities, be commercially viable (EurActiv Energy News, 2015; Mines their locations, and their annual capacities.
    [Show full text]
  • Italcementi Change 2016/Pages/D
    Climate Change 2016 Information Request - Italcementi https://www.cdp.net/sites/2016/74/9574/Climate Change 2016/Pages/D... Climate Change 2016 Information Request Italcementi Module: Introduction Page: Introduction CC0.1 Introduction Please give a general description and introduction to your organization. With an annual production capacity of 60 million tons and 42 cement plants Italcementi Group is one of the world’s largest cement producer with a strong focus on innovation and sustainable construction materials. Along with the cement plants, Italcementi Group’s industrial network includes 15 grinding centers, 6 trading terminals, 415 concrete batching units combining the expertise, know-how and cultures of 21 countries across four continents. In 2015 the Group reported consolidated revenues of 4.3 billion Euro. Founded in 1864 and listed on the Italian Stock Exchange since 1925, Italcementi achieved important international status with the take-over of Ciments Français in 1992. Following a period of re-organisation and integration that culminates in the adoption of a single corporate identity for all Group subsidiaries, the newly-born Italcementi Group began to diversify geographically through a series of acquisitions in emerging countries such as Bulgaria, Morocco, Kazakhstan, Thailand and India, as well as operating in North America. As part of the plan to further enhance its presence in the Mediterranean area, in 2005 the Group boosted its investments in Egypt becoming one of the market leaders. In 2007 it further strengthened its presence in Asia and the Middle East. In 2014 the Group approved an extraordinary plan aimed at strengthening and streamlining the group capital structure and organization.
    [Show full text]
  • Working Papers
    Working Papers R & D PREVALENCE OF PATRIMONIAL FIRMS ON PARIS STOCK EXCHANGE: ANALYSIS OF THE TOP 250 COMPANIES IN 1993 AND 1998 by C. BLONDEL* N. ROWELL** and L. VAN DER HEYDEN† 2002/83/TM * Senior Research Programme Manager, INSEAD, Boulevard de Constance, 77305 Fontainebleau Cedex, France. ** Research Associate, INSEAD, Boulevard de Constance, 77305 Fontainebleau Cedex, France. † The Wendel/CGIP Chaired Professor for the Large Family Firm, and The Solvay Chaired Professor of Technological Innovation, INSEAD, Boulevard de Constance, 77305 Fontainebleau Cedex, France. A working paper in the INSEAD Working Paper Series is intended as a means whereby a faculty researcher's thoughts and findings may be communicated to interested readers. The paper should be considered preliminary in nature and may require revision. Printed at INSEAD, Fontainebleau, France. Kindly do not reproduce or circulate without permission. Prevalence of Patrimonial firms on Paris Stock Exchange: Analysis of the top 250 companies in 1993 and 1998 Christine Blondel Senior Research Programme Manager, Family Firms [email protected] Nicholas Rowell Research Associate [email protected] Ludo Van der Heyden Wendel/CGIP Professor for the Large Family Firm & Solvay Professor of Technological Innovation [email protected] INSEAD Boulevard de Constance F – 77305 Fontainebleau Cedex France Tel: +33 (0)1 60 72 40 00 Fax:+33 (0)1 60 74 55 00 ABSTRACT This report analyses the 250 largest publicly traded companies in France, the so-called SBF 250, with a focus on the prevalence, evolution, and degree of control of patrimonial firms in this sample of firms. Patrimonial firms are here defined as companies where individuals or families are identified as major ultimate shareholders with at least 10% of equity at each level of the ownership chain.
    [Show full text]